I would like for someone to tell me where I could go to get help to pay my own taxes. I also would like to know is it to late to make the payments, because I don't want to wait to the end of the year. Someone please help me!!!
2007-06-05 05:04:08 · 10 answers · asked by bigshaheem 1 in Business & Finance ➔ Taxes ➔ United States
If they gave you a W9 you have to pay taxes...you are supposed to pay quarterly and you can do it at your bank... try a simple program like turbo-tax...or if you make good money just see an accountant...it may seem like a waste of money but they will let you know how to get the most deductions and you will save way way more than you pay
2007-06-05 05:13:59 · answer #1 · answered by Matt S 2 · 1⤊ 1⤋
Your employer is breaking the law. Essentially they are paying you off the books. The law requires them to take out taxes and give you a W2 at the end of the year unless you are a 1099 worker. Being 1099 means you are working as a contractor and are performing a job as a contractor not an employee. There are many checks that have to be passed to have that be legal. At the end of the year - if you are 1099 - you will get that form instead of a W2. In that case you have to file a quarterly report and pay your estimated taxes as of that time. I feel though that is not the case or you would know about it. If you are 1099 and don't file the quarterly report then there are some costly penalties for not doing so.
You really need to ask your employer what your status is. I suspect it is that you are "under the table". If you don't report the income then both you and the employer are breaking the law. That decision is up to you. Personally I don't mess with the IRS.
2007-06-05 05:13:05 · answer #2 · answered by Moondog 7 · 0⤊ 1⤋
I'm not an accountant, but I have experience in these matters. First, what is your job status? Are you an employee, are you an independent contractor? If you're an employee, I don't know why your job isn't taking taxes out for you. Either way, you MUST pay taxes to the government. If you anticipate making more than $1,000/quarter, you must pay advance taxes to the IRS. The form 1040ES will tell you more, but anticipate it being approximately 20-35% of what you're making. Don't forget your state treasury department and possibly even your local city/county taxes. If you live in NYC, you have to pay NYC (that's your local tax peeps). If you don't pay, you have to pay penalties at the end that can be bad based upon what you owe.
DO NOT GO to H&R Block, they suck, and they rip you off. You can easily find an accountant in your phone book. Before you accountant up, you should browse www.irs.gov It's really not that hard you just have to stop being scared of taxes. If you don't face it, you won't get a zero like not doing your homework in high school. You get a summons from the tax court.
2007-06-05 05:13:16 · answer #3 · answered by Anonymous · 2⤊ 1⤋
You fill out a form 1040ES, and send it in quarterly. The time for the first quarter has passed (was April 17) but the second quarter payment is due June 15 - as long as you get enough paid in by the end, you'll be OK even though technically you should have made the 1st quarter payment too.
If you don't make estimated payments, if you owe over $1000 when you file, you'll pay penalties for underwithholding en if you pay the whole amount with your tax return.
You can download form 1040ES and the instructions at irs.gov
2007-06-05 05:10:39 · answer #4 · answered by Judy 7 · 4⤊ 0⤋
Well you can ask your employer if there's an option at your job if you want to ay taxes or hold on if your getting paid under the table then you don't have to pay taxes at all because he's giving you straight cash but if your getting a check with a check stub then you have the option to choose for your taxes to be taken out of your check or for you to pay them at the end of the year which it won't be that much like a couple of hundred like $300.00 - $400.00 depending on how much you make through out the year.
2007-06-05 05:10:18 · answer #5 · answered by REPIN DA 804 2 · 1⤊ 1⤋
You will have to keep track of your income because you will be expected to pay taxes. Just because they don't take taxes doesn't mean that they don't report your income. Start saving now or you are going to be in pain later when the tax bill comes!
2007-06-05 05:06:33 · answer #6 · answered by Mary A 4 · 0⤊ 0⤋
YES age does not have any thing to do with the required withholding of the FICA taxes and income tax $ amounts at any age from birth until death this would be required when you would be receiving the earned income for this purpose and time in your life while performing your services to earn the GROSS $ amounts of income for this purpose. Hope that you find the above enclosed information useful. 11/21/2011
2016-05-17 08:41:22 · answer #7 · answered by ? 3 · 0⤊ 0⤋
you need to open a seperate savings account somewhere, specifically for your taxes. No, they don't let you make payments, and no they don't let you do anything else. They're your taxes, and YOU are responsible for them. Set aside an account, and put roughly 20-25% of EVERY paycheck in it, and be responsible enough not to ever use the money. Then at the end of the year, you can use it to pay your taxes. That's your best bet, and only other option.
2007-06-05 05:08:17 · answer #8 · answered by Anonymous · 1⤊ 4⤋
Tell your payroll department to take out the proper taxes. I think it is a w9 form that has to be filled out.
2007-06-08 16:27:06 · answer #9 · answered by K M 4 · 0⤊ 0⤋
don't vote for bush
2007-06-05 05:06:58 · answer #10 · answered by Anonymous · 0⤊ 5⤋